Tags: EU | Spain | Catalonia

Catalan Bank Considers Move amid Independence Bid

Thursday, 05 October 2017 06:38 AM

BARCELONA, Spain (AP) — Spanish media are reporting that executives in one of Catalonia's largest banks will consider Thursday whether to relocate the company's registration out of the region as separatist authorities there have pledged to go ahead with an independence declaration as early as next week.

Private news agency Europa Press reports that the Banco Sabadell board meeting Thursday afternoon will discuss the move to ensure that it remains under the legal framework of the European Central Bank, the region's financial regulator.

Europa Press said that Spanish capital Madrid, Alicante and Oviedo are some of the destinations being considered for the new registration, although the bank's central services would remain in Barcelona.

Banco Sabadell couldn't be immediately reached for comment.

The bank's shares, which have seen heavy losses in recent days, picked up on Thursday amid the speculation.

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Spanish media are reporting that executives in one of Catalonia's largest banks will consider Thursday whether to relocate the company's registration out of the region as separatist authorities there have pledged to go ahead with an independence declaration as early as next...
EU,Spain,Catalonia
138
2017-38-05
Thursday, 05 October 2017 06:38 AM
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